Ethical Dilemma of Ransomware Payments and Evolving Cyberattack Trends

Fresh off the stage of the Links Conference,  Ian Andrews (CMO, Chainalysis) speaks to Andrew Davis (General Counsel, Kivu Consulting), who presented in front of a packed house and shared insights about new ransomware strategies and how companies can better protect themselves.

Andrew discusses the evolving landscape of ransomware attacks and the challenges faced by victim organizations when deciding whether or not to make payment.

He shares the wide spectrum of new typologies, including  cyber extortion and data theft and how the major exploits of pharmacy payment processors and oil pipelines has attracted law enforcement to take swift action against ransomware groups.

Andrew also highlights the most common attack vectors and social engineering attack vectors, while presenting the new challenges that AI will have on deep fakes and image/video modifications used by ransomware attackers. 

2 | Overflowing Interest in Cybersecurity at Chainalysis Links Conference 2024  

4 | Rise in cyber extortion and data theft and strategies for handling ransomware attacks

8 | Negotiating ransomware demands and law enforcement dynamics 

12 | Strategies and sanctions risks in ransomware payment decisions

17 | Ransomware attack disrupts major pharmacy companies, oil pipelines and casinos

21 | Debating the ban on ransomware payments and understanding Initial Access Brokers (IACs)

23 | The perils of reused passwords, account breaches and sophisticated fake recruiting attack vectors

28 | The evolving threat of AI and its role in sophisticated ransom attacks

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Kivu: We fight cybercrime. We protect humanity
• Article: Can Organizations Still Pay Ransomware Demands?
• Article: Emerging Threat Alert: Drive-By-Compromise On The Rise As Gootloader Malware Exploits Seo Poisoning To Target Victims
• Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
• Blog:  Understanding Crypto Drainers
• Blog: Ransomware Payments Exceed $1 Billion in 2023, Hitting Record High After 2022 Decline
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain
• Tik Tok: Building trust in #blockchains among people, businesses, and governments
• Telegram: Chainalysis on Telegram

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
• Andrew Davis (General Counsel, Kivu Consulting)

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.